A specialized investment and technology development firm with more than US $5 billion in aggregate capital, the D. E. Shaw group of companies has earned an international reputation for financial innovation and technological leadership in activities ranging from computer-based quantitative investment management to the development and financing of technology-oriented business ventures.

“We are thrilled to have D. E. Shaw as a Geneva client,” said Matthew Harrell, Advent’s head of hedge fund and prime broker sales for Geneva. “Geneva’s unique architecture is based on unprecedented technology innovations that go far beyond anything commercially available in the marketplace today. We are especially proud to have been selected by the firm that is revered for its financial innovation and technology leadership.”

“Advent has made a solid commitment to Geneva, and their strong development team, product management, and market share give us confidence the system can meet our needs,” said Adam Stauffer, Senior Vice President at D. E. Shaw & Co., L.P. “Geneva will help us simplify our back office technology, streamline the management of complex financial instruments, and give us more timely and flexible views of our investment portfolios.”

GENEVA GAINS MOMENTUM IN HEDGE FUND MARKET

Twenty-two global hedge funds, with estimated cumulative assets under management of more than $60 billion and representing ten percent of the estimated global hedge fund assets, now use Geneva. In addition, seven of the top 12 prime brokers with a client base representing approximately one-third of the global hedge fund industry, four global fund administrators, and two major global asset managers also use the Geneva solution. While 15 of the top 25 hedge fund managers use Geneva, Advent also provides solutions for hedge funds of all sizes and strategies – from start-ups, to medium long/short equity-only hedge funds, to large, multi-billion dollar, multi-strategy hedge funds. To meet the demand globally, Advent has begun offering Geneva with competitive pricing in the marketplace to multi-strategy funds with assets in the $500m+ range.

Advent’s Geneva is the only global portfolio accounting system that meets the stringent and complex needs of investment managers worldwide when accounting for high volume, traditional, derivative, domestic and global investment strategies, as well as when integrating accounting data into their straight-through processing (STP) infrastructures. The D. E. Shaw group is a major participant in many of the world’s capital markets, trading stocks, bonds, options, futures, warrants, convertible securities, and a variety of other financial instruments issued by companies and governments in both the major industrialized nations and a number of emerging markets.

“Although many firms fear the replacement costs associated with implementing a new system, the right system will reap significant gains in productivity and profitability. Geneva is this right system – its architecture ensures functional and technical scalability far beyond any other system currently available in the market, and it is the only system to feature such advanced capabilities as single data model sub ledger and general ledger accounting, dynamic error correction, knowledge date reporting and unsurpassed ability to address a broad range of instruments and views of investment data,” said Peter Hess, Vice President of Marketing, Advent Software.

About the D. E. Shaw GroupHeadquartered in New York, the D. E. Shaw group encompasses a number of closely related entities with more than US $5 billion in aggregate capital. Activities range from computer-based quantitative investment management to the development and financing of technology-oriented business ventures, but are tied together by a common focus on the economic implications of technological innovation. Since its organization in 1988, the firm has earned an international reputation for financial innovation and technological leadership, and has been described as “the most intriguing and mysterious force on Wall Street.”

About AdventAdvent Software, Inc. (www.advent.com) has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 55 countries use Advent technology to manage investments totaling more than US $8 trillion. Advent's quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs.

NOTE: Geneva is a registered trademark of Advent Software. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.